Most Popular Surety Bonds in Sacramento

Most California auto dealers need a $50,000 bond. That’s one of the prerequisites to getting your license from the state Department of Motor Vehicles. A $10,000 bond is required from motorcycle, ATV and wholesale dealers.

If you’re a Sacramento contractor who wants to work on projects that are above $500, you need a license from the California Contractors State Licensing Board (CSLB). Posting a $15,000 bond is one of the main requirements.

Liquor sellers in Sacramento, as in the rest of California, may need to get a bond as required by the state’s Board of Equalization. The bond amount is set on an individual basis when you apply with the Board.

If you want to run an insurance company in Sacramento, you need a California license from the Department of Insurance’s Producer Licensing Bureau. The bond amount is $10,000.

Overview of Sacramento surety bonds

Surety bonds in Sacramento, as in the whole of the U.S., represent a contractual agreement between three parties. The principal is your business or yourself. The authority that imposes the bonding requirement it is the obligee. The surety is the bond underwriter. Bonds guarantee your legal compliance. They ensure that a harmed party can seek a proper compensation via a bond claim if you transgress from your legal obligations.

Besides license bonds, you may also need to post contract bonds in Sacramento. They are required of construction specialists who want to bid on public and private projects. For example, the City of Sacramento may ask you to post payment and performance bonds.

In some cases, you may have to get court bonds. You may need them if you want to bring a court case to a higher instance, or if you have to act as a fiduciary for another person’s assets.

Need more details about Sacramento surety bonds? Just call us at (877) 514-5146, and our experts will be happy to assist you.

Frequently Asked Questions

How much does it cost to get bonded?

The bond amount you need to post is set by the relevant authorities in the state, municipality or city you’re based in. To get bonded, you only have to pay a bond premium. In many cases, it is between 1% and 5%. The percentage depends on the bond type that you need and on your personal and business finances.

The factors that determine your surety bond cost include your credit score, business documents, and any other assets you have. Your surety examines them to assess how risky it is to get you bonded. Your bond price is lower if your application is solid.

What if I have bad credit?

It is possible to get bonded even if you have problematic finances. Our Bad Credit Surety Bonds program is designed for applicants with low credit scores, tax liens, bankruptcies, and civil judgements. It is not available only for contract bonds.

The bond price is higher here, in the range of 5% and 15%, which compensates for the higher risk involved. Since we work with numerous A-rated, T-listed surety companies, we can still get you a great bonding rate whatever your credit score is.

What Our Clients Have To Say?

Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!

Andrew Poincot

Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!

Margie Martinez

We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!